Monthly Market Update
Submitted by TLWM Financial on November 1st, 2024
October was a steady month for investors as the S&P 500 drifted slightly higher throughout the month before pulling back to close about 1% lower. Stocks ended the month with the S&P 500 up almost 20% for the year. (YCharts)
The 10-year Treasury yield also rallied during the month, jumping from 3.81% to 4.29%, as interest rates moved steadily higher for the first time since the end of April. (YCharts) This move is notable as it comes after the Fed cut rates in September which leads us to ask: why did rates move higher, and what does that mean for the future?